Prices gained tracking firmness in spot demand on limited supply in local mandis. Prices also seen supported supported by lower arrivals as farmers are reluctant to sell crop below Rs 2,800 per quintal in the local mandis. The supplies have been decreased drastically this week compared to previous week. As per data, arrivals of soybean during 27-31 Mar were about 24,979 tonnes Vs 80,092 tonnes during previous week. The mills have procured large volumes of soybean earlier in the season lower levels which helps in more competitive prices of meals for record exports. The market may get support at lower levels from news of Govt to allow export of edible oils including soya oil.

Trading Ideas:

# Soyabean trading range for the day is 2909-2993.

# Soyabean prices gained tracking firmness in spot demand on limited supply in local mandis.

# Prices also seen supported supported by lower arrivals as farmers are reluctant to sell crop below Rs 2,800 per quintal in local mandis.

# NCDEX accredited warehouses soyabean stocks dropped by 1015 tonnes to 191823 tonnes.

# At the Indore spot market in top producer MP, soybean dropped -12 Rupees to 3002 Rupees per 100 kgs.

Get Commodity Market Tips for click here http://www.ripplesadvisory.com/services.php.